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China’s Sinopec to become a strategic investor in Russia’s Sibur

by ChemOrbis Editorial Team - content@chemorbis.com
  • 04/09/2015 (11:21)
According to a press release on the company’s website, China’s state owned oil company Sinopec and Russia’s Sibur signed a framework investment agreement during a state visit by Russia’s President Vladimir Putin to China, which envisages Sinopec becoming a strategic investor in Sibur. The deal is subject to approvals by corporate governing bodies and regulators in both countries.

Via the new agreement, Sinopec targets to strategically expand their petrochemical business in overseas markets while Sibur aims to reinforce their expertise to maximize the efficiency of their new large-scale projects.
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